What is an ordinary annuity? What is an annuity due? Describe how the present value of an annuity can be found. Briefly describe how to solve for the interest rate or the time period in annuity problems. Describe the process for determining the size of a constant periodic payment that is necessary to fully amortize a loan such as a home mortgage. 

 

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An ordinary annuity is a series of equal payments made at the end of each period for a specified num... View the full answer